Fun

Solana Reclaims Key Support After Sweeping Lows – Early Signs Of Reversal?

News Feed - 2025-06-01 04:06:11

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español.


Solana (SOL) has remained under the radar in recent weeks, with market attention primarily centered on Bitcoin and Ethereum. While the broader crypto market digests recent volatility, SOL has been quietly consolidating just below key resistance. This silence, however, might not last much longer. Top analysts are starting to turn their focus back to Solana, suggesting that a powerful move could be brewing. Related Reading Ethereum Bulls Defend Support – Key Indicator Hints At Short-Term Rally 1 day ago


According to analyst Bluntz, the recent price action in SOL is showing promising signs. He notes that after sweeping the lows, Solana is now working on a reclaim of support — a classic bottoming pattern that often precedes a strong rebound. Although it’s still early days, this reaction could lay the foundation for a sharp rally if SOL manages to break back above the $160–$165 range.


The sentiment echoes a broader belief among market watchers that Solana could become a major leader in the next leg of the altseason, especially if Ethereum breaks out from its current resistance. As bullish structure builds and technical indicators begin to align, the setup for SOL appears to be quietly strengthening, making it a key altcoin to watch in the coming weeks. Solana Setup For Breakout Remains Strong


Solana (SOL) has been on a consolidation path over the past few weeks, struggling to reclaim the $180 resistance level. After peaking in early May, SOL has retraced steadily, now trading around the $150 range as it searches for renewed demand. This retracement aligns with a broader market pullback, as global tensions — especially surrounding US–China tariffs and rising interest rates — inject volatility and caution into financial markets.


Despite the current slowdown, analysts remain optimistic about Solana’s medium-term outlook. Top trader Bluntz recently shared that SOL’s reaction after taking the lows is promising. According to him, the altcoin is now working on a reclaim of support, which could be the precursor to an aggressive rally. The key lies in whether Solana can push back above the $180 zone — an area of heavy supply that has repeatedly rejected bullish momentum. Solana deviates from range | Source: Bluntz on X


If SOL does manage to flip this level into support, the price structure suggests there’s ample room for a sharp breakout. The setup aligns well with rising calls for an altseason, particularly if Bitcoin dominance continues to roll over and Ethereum confirms a breakout above its multi-month resistance.


In this scenario, Solana could emerge as one of the leading assets in the next crypto leg up, given its strong developer ecosystem, scalability, and growing DeFi sector. While current price action remains neutral to slightly bearish, a reclaim of $180 would likely flip sentiment quickly and attract fresh capital. As market focus shifts from major caps like BTC and ETH, SOL could be poised to capture the spotlight — and potentially lead the next altcoin rally. Related Reading Solana Flashes Buy Signal – $159 Support Key For Rebound 1 day ago SOL Tests Key Support As Price Action Stalls Below $160


Solana (SOL) is currently trading at $154.47 after losing the $160 support, facing continued pressure following its rejection from the $180 resistance level earlier in May. The chart shows that SOL is now hovering just below the 34-day EMA and the 50-day SMA, indicating a breakdown in short-term bullish momentum. Volume has also decreased, signaling hesitation from both buyers and sellers amid broader market uncertainty. SOL consolidates below key moving averages | Source: SOLUSDT chart on TradingView


The 200-day moving average at $179.73 remains the major resistance level to reclaim in order to resume a bullish structure. Meanwhile, the zone between $150 and $156 is now acting as a critical demand area. A sustained close below $150 could open the door for deeper corrections, possibly toward the $140-$130 range, which aligns with previous consolidation levels in April. Related Reading Ethereum Daily Gas Usage Hits New Highs – Real Demand Powers ETH Growth 2 days ago


Despite the current weakness, the longer-term trend remains neutral-to-bullish as long as Solana holds above the 100-day SMA around $144.58. If SOL can consolidate and reclaim the $160–$165 region, it could trigger renewed upside momentum and challenge the $180 level once again. Analysts remain cautiously optimistic, with some expecting a rebound if market conditions stabilize and altseason momentum picks up in the coming weeks.


Featured image from Dall-E, chart from TradingView

News Feed

Texas Securities Regulators and Attorney General Object to FTX Purchasing Voyager Digital
Texas Securities Regulators and Attorney General Object to FTX Purchasing Voyager Digital Regulators from the state of Texas and the state’s attorney general are objecting to FTX
Ethereum Price Breaks Above Massive Triangle – Next Target: $10,000
Este artículo también está disponible en español. Recent price action has seen the Ethereum price breaking above the $4,000 price level again to drive euphoria among cryp
Amaka Nwaokocha1 hour agoNigeria’s Web3 education efforts seek to tackle language challengesBello Usman Abdullahi, the chief operating officer of the blockchain education platform Bitkova Academy, said the language bar
Russia to Change 13 Laws and Codes for Digital Ruble
Russia to Change 13 Laws and Codes for Digital Ruble Authorities in Russia are gearing up to amend various pieces of legislation to facilitate the issuing and function of the digit
Helen Partz56 minutes agoGrab, Uber’s Southeast Asian rival, debuts Web3 services with CircleGrab, Southeast Asia’s Uber-like super app, is working with the USDC issuer Circle to enable Web3 services for its 187 mill
Famed Whistleblower Edward Snowden Reveals He Took Part in the Zcash Launch Ceremony
Famed Whistleblower Edward Snowden Reveals He Took Part in the Zcash Launch Ceremony Edward Snowden, the well-known whistleblower and former computer intelligence consultant who ex
X suspends account that let users launch memecoins from an X post
Martin Young3 hours agoX suspends account that let users launch memecoins from an X postThe "makenowmeme" account on X purportedly provided a way for X users to create memecoins on Solana with a simple post.943
Acclaimed NFT Artist’s Blockchain-Backed Digital Art Auction Raises $3.5 Million
Acclaimed NFT Artist"s Blockchain-Backed Digital Art Auction Raises $3.5 Million Blockchain-backed digital art is continuing to make waves and this week an artis
XRP Daily New Addresses Plunge 80% In 2025 — Bearish On-Chain Metrics Raise Alarm
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Solana sees ‘dramatic increase’ in institutional portfolios: CoinShares
Jesse Coghlan6 hours agoSolana sees ‘dramatic increase’ in institutional portfolios: CoinSharesCoinShares found a significant increase in hedge funds and wealth managers survey respondents who have allocated to Solan
Sources With Ties to Washington Say Joe Biden Will Renominate Fed Chair Jerome Powell
Sources With Ties to Washington Say Joe Biden Will Renominate Fed Chair Jerome Powell Unnamed sources familiar with the matter indicate the Biden administration may allow Federal R
Tether Defends Its Record, Blasts WSJ For ‘Irresponsible Reporting’
Este artículo también está disponible en español. In a recent report by the Wall Street Journal (WSJ), it was alleged that Tether is currently under federal investigation